Economy Savings Institution (Beaver Falls, PA)

Episode Information

Episode UID
166999191101
Episode Type
Run Only
Bank Type
savings
Bank ID
16699919 hash
Start Date
September 27, 1891
Location
Beaver Falls, Pennsylvania (40.752, -80.319)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c07a18d038e24c74

Response Measures

None

Events (1)
1. September 27, 1891 Run
Cause Details
Described only as a small run; no specific trigger given in articles
Measures
Locals (the Economites) shipped a nail keg/barrel of silver coin to the bank to bolster funds
Newspaper Excerpt
Many think that the slight run on the Economy Savings Bank caused the shipment of these old coins
Source
newspapers

Newspaper Articles (6)
1. September 28, 1891 Pittsburg Dispatch Pittsburgh, PA
Article from Pittsburg Dispatch, September 28, 1891

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Article Text

OLD COIN SENT OUT. The Economites Ship a Keg of Silver Half Dollars to Beaver Falls. BEAVER FALLS, PA., Sept. 27.-[Special.]Yesterday the Economites shipped to the Economy Savings Bank, in this city, a nail keg full of old United States silver coins. all as bright and new as they had just come from the mint. The denomination of the coins was principally half dollars, and the date was 1823, showing that the coins have been hoarded away in Economy for nearly 70 years. It is said that they have vast quantities of the old coin stored away in their strong vaults at Economy, also gold coins, which are guarded night and day by a few faithful retainers. to whom only is known the location of the treasure house. Many of the factories who paid their men yesterday secured a quantity of these old coins, and last night the town was flooded with them. Many think that the slight run on the Economy Savings Bank caused the shipment of these old coins, but others say it is the custom of these people to ship a quantity every year and get it into circulation.

2. September 29, 1891 Evening Journal Wilmington, DE
Article from Evening Journal, September 29, 1891

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Article Text

BEAVER FALLS, Pa., Sept. 29.-The Economites have shipped to the Economy Savings bank of this city a nail keg full of old United States silver coins as bright and new as when they left the mint. The coins were principally half dollars dated 1823, showing that they have been hoarded away in Economy for nearly seventy years. A small run on the bank caused the Economites to send out the money.

3. September 29, 1891 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, September 29, 1891

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Article Text

HOARDED FOR 70 YEARS. The Economites Send Over a Barrel of Silver to Help Their Bank. BEAVER FALLS, Pa., Sep. 29.-Yester. day the Economites shipped to the Economy Savings Bank of this city a nail keg full of old United States silver coins as bright and as new as when they left the mint. The coins were principally half dollars dated 1823, showing that they have been hoarded away in Economy for nearly 70 years. A small run on the bank caused the Economites to send out the money. It is believed that they have several hun. dred thousand dollars in gold and silver stowed away in their strong boxes in secret hiding places at Economy, guard. ed by some of the faithful. Nearly every year they send a keg of ancient money to the bank here.

4. September 29, 1891 The Evening Herald Shenandoah, PA
Article from The Evening Herald, September 29, 1891

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Article Text

HOARDED FOR 70 YEARS. The Economites Send Over a Barrel of Silver to Help Their Bank. BEAVER FALLS, Pa., Sep. 29. -Yester. day the Economites shipped to the Economy Savings Bank of this city a nail keg full of old United States silver coins as bright and as new as when they left the mint. The coins were principally half dollars dated 1823, showing that they have been hoarded away in Economy for nearly 70 years. A. small run on the bank caused the Economites to send out the money. It is believed that they have several hun. dred thousand dollars in gold and silver stowed away in their strong boxes in secret hiding places at Economy, guarded by some of the faithful. Nearly every year they send a keg of ancient money to the bank here.

5. October 1, 1891 Connecticut Western News North Canaan, Salisbury, Canaan, CT
Article from Connecticut Western News, October 1, 1891

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Article Text

A Nail Keg Full of Old Cash. BEAVER FALLS, Pa., Sept. 29.-The Economites have shipped to the Economy Savings bank of this city a nail keg full of old United States silver coins as bright and new as when they left the mint. The coins were principally half dollars dated 1823, showing that they have been hoarded away in Economy for nearly seventy years. A small run on the bank caused the Economites to send out the money.

6. October 1, 1891 The Morning News Savannah, GA
Article from The Morning News, October 1, 1891

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Article Text

Recently , the peculiar Pennsylvania Economites shipped to the Econmy Savings Bank, at Beaver Falls. a nail keg full of old United States silver coins, as bright and new as when they left the mint. They were principally half-dollars, dated 1823, showing that they have been hoarded away in Economy for nearly seventy years. Symptoms of & small run on the bank caused the Economites to send out the money. It is believed that they have several hundred thousand dollars in gold and silver stowed away in their strong boxes in some secret hiding place at Economy, guarded by some of the faithful. Nearly every year they send a keg of the ancient money to the bank there. They are a very singular sect. But they don't appear to be at all short of cash.